I saw IKEA sell these ornaments – It is part of their Vintermys collection. But it is super easy and can be made by anyone.
It looks like this.
This craft can be done by kids in the 3 – 6 age group.
Strips of paper
Cut thin strips of paper. I wanted a two tone ornament and went for the Christmas colors red and green.
Glue / staple two strips of paper at right angles to each other.
Lift and fold green strip and then fold the red strip over the green strip.
You just have to alternatively fold the two strips at 90 degrees. It will look like this. Staple another strip of paper if you want this to be longer.
Glue / Staple the ends to form a circle. (Shorter version on left and longer version on the right)